Geopolitical risk and the role of the internal auditor (including sanctions)
Presented by: Derek Leatherdale and John Chesshire
Recent events have highlighted the many ways companies, the public sector and charities can be affected, often indirectly, by geopolitical disruption. This one-day course provides an overview of how geopolitical trends globally will increasingly challenge the international business environment and structured insight into how these trends can create direct and indirect impacts on corporate strategy, financial performance, operational resilience, reputation and ESG decisions. This provides the basis for setting out the key ways in which internal audit can provide greater assurance to boards and other strategic stakeholders that their organisations are anticipating and managing the impacts of such a critical area of emerging risk. We will also examine and consider internal audit's growing role in providing assurance over organisational responses to the proliferation of sanctions as a geopolitical tool.
Who should attend?
This course is suitable for a wide range of delegates, including those with little and those with significant internal audit, risk and governance experience. Attendees from organisations that have material exposures to geopolitical developments, or where geopolitical issues are either discussed by the board and its committees, noted in risk registers or listed in other risk frameworks will particularly benefit.
What will I learn?
Upon completion you will be able to:
- understand and anticipate how key geopolitical themes globally will affect the business environment over the medium-term
- analyse the full range of ways in which these issues can affect your business
- identify key barriers to effective risk management within your organisation
- understand how risk management and governance processes can be optimised to anticipate and manage business impacts from geopolitics more effectively
- challenge whether your organisation has considered key mitigation strategies as needed
- consider the ways in which internal audit can provide assurance and advice in respect of geopolitical risk including organisational sanctions responses and initiatives
- begin to develop an audit work programme looking at relevant aspects of geopolitical risk for your organisation.
- introduction to the global geopolitical environment: recent trends, heightened instability and emerging risks
- corporate impacts: approaches to considering how your organisation may be affected
- common internal barriers to geopolitical risk anticipation and management
- effective geopolitical risk management frameworks: what good governance and risk management looks like
- common corporate strategies and tools for geopolitical risk management
- internal audit tools and techniques for geopolitical risk assurance including sanctions
- developing an engagement TOR and work programme for an engagement that considers geopolitical risk
- network with peers to share perspectives and good practices in this area.
CPE competency areas covered
- Performance (Risk management)
- Environment (Organisational strategic planning and management)
- Leadership & communication (Internal audit strategic planning and management)
7 CPE points
Member: £688 + VAT
Non-member: £924 + VAT